Some of you probably saw the news that bitcoin will be fully legal to its citizens in June. What do you guys think will happen to Bitcoin?
I think there will be no big impacts on crypto market and no significant change in BTC price. Even if there is a change in BTC price, it will be a temporary change only (
a short-term increase). If you expect a significant move in BTC price, just wait for the BTC halving in 2024!
If the news about Hong Kong Legalizing Bitcoin become a hype and news trend then it will affect the price of Bitcoin. what I am saying is, whether there is an effect or not depends on the severity of the impact the news can bring. If it made a lot of noise then it is more likely the reason for some massive adoption in some area.
However, it will be good for everyone in Hong Kong, it will be easier to use Bitcoin in many sectors. When BTC is fully legalized, it means that the Hong Kong government fully supports BTC. It may be almost the same as in El Salvador, the government probably plans to have a special program to utilize BTC massively there.
Not only in Hongkong but also in the entire cryptocurrency.